Insurance entrepreneur Clive Cowdery is aiming to build a UK insurance giant valued at up to £11 billion.

The tycoon, who made more than £100m selling his first vehicle to Pearl Assurance last year, is preparing to go on a buying spree that would see him put together several large UK life insurers and eventually own up to a third of the sector, which is valued at about £35 billion.

In recent weeks, Cowdery has been on a mini-roadshow around the City armed with a list of companies that his Resolution vehicle has identified as possible targets.

He has told investors and analysts that the “hit-list” has 11 names on it as well as a smaller “top-five” of companies that he ranks as the most attractive targets. He has told his audiences that ultimately he expects to buy three from the top-five list.

The firepower Resolution has at its disposal through money raised and by using its own shares means Cowdery could launch a bid for almost any company in the UK life sector, except for Prudential or Aviva.

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